According to a Crisil study, the small and mid-cap segments emerged as winner beating large-cap, diversified and equity-linked savings scheme (ELSS) peers.

The current calendar year has seen the CNX midcap index losing more than Nifty. While the 50-share Nifty has lost 2.66% in CY14, the CNX midcap is down a little over 5% in 2014.

At the fund house level, UTI Mutual Fund and Birla Sun Life Mutual Fund led the tally of top-ranked funds for the quarter ended December 31, with eight funds each under Crisil Fund Rank 1, followed by ICICI Prudential Mutual Fund with seven and IDFC Mutual Fund with five funds.